Malaysian stock market takes regime change in its stride

SINCE the stunning outcome of Malaysia's GE14 general election a week ago on May 9 that saw a change of government for the first time in 61 years, two chief narratives have played out in the Malaysian bourse: one of hope or a medium to long-term "reform play"; and the other - a more near-sighted one - of fear and uncertainty.

Many analysts, in tacit acknowledgement of the "fear politics" peddled by the Barisan Nasional (BN) coalition prior to the polls that a change of government would be disastrous, had expected the equity market to display jitters or a panic sell-down in the aftermath of the "mother of all elections".

None of that happened.